secwatch.observer — SEC 8-K summary
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Issuer:     TMC the metals Co Inc. (TMC)
CIK:        0001798562
Form:       8-K
Filed at:   2021-12-30T23:59:59+00:00
Accession:  0001104659-21-154779
Event type: regulatory
Sentiment:  negative
Materiality: 0.55
Item codes: 3.01, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

TMC the metals company loses Nasdaq audit committee compliance after director resignation; cure period through 2022
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- Scott E. Leonard resigned from Board effective Dec 24, 2021; Andrew Hall appointed Chair of Audit Committee.
- Audit Committee now has fewer than 3 independent directors, violating Nasdaq Rule 5605(c)(2)(A).
- Cure period expires at earlier of 2022 annual meeting or Dec 24, 2022; company will search for new director.
- Company notified Nasdaq on Dec 29, 2021; expects formal letter confirming noncompliance and cure period.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1798562/000110465921154779/0001104659-21-154779-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1798562/000110465921154779/tm2136528d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-21-154779

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer